bought new kitchen appliances and spent up on home work-station technology as the at-home lifestyle was forced upon them. The stock recovered strongly.By March 2022 this year its shares had climbed to $55.85. But then a third of its sharemarket value vanished in less than three months as many investors decided this would be as good as it gets, and the dream run may be over.
It navigated the COVID-19 pandemic with aplomb, with its online business roaring ahead, up 50 per cent for the year.and the central role a steadily growing residential housing market plays as a bedrock of the economy finally bring a partially unravelling? He has an “underweight” rating on the stock and a 12-month price target of $34.90. JB Hi-Fi shares closed on Friday at $44.46.
Goldman Sachs analyst Lisa Deng has a “sell” rating on the stock and thinks it will sink to $34.90 within 12 months. She said the trading update showed better-than-expected margins but expects pressures to build in this new financial year as the business faces both “cyclical and structural challenges”.
Source: Real Estate Daily Report (realestatedailyreport.net)
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